Broadcom Inc. (NASDAQ:AVGO) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Broadcom Inc. (NASDAQ:AVGO – Get Rating) have earned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $679.21.

Several brokerages have recently commented on AVGO. Bank of America boosted their target price on shares of Broadcom from $680.00 to $725.00 in a research note on Friday, March 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $775.00 target price on shares of Broadcom in a research note on Wednesday, March 1st. Benchmark initiated coverage on Broadcom in a research report on Wednesday, April 12th. They set a “buy” rating and a $770.00 price target on the stock. BNP Paribas initiated coverage on Broadcom in a research report on Tuesday, February 28th. They issued an “outperform” rating and a $660.00 price objective for the company. Finally, Susquehanna restated a “positive” rating and set a $690.00 target price on shares of Broadcom in a report on Thursday, March 9th.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,175 shares of the company’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $625.01, for a total transaction of $1,984,406.75. Following the sale, the director now directly owns 9,734 shares of the company’s stock, valued at $6,083,847.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, Director Eddy W. Hartenstein sold 3,175 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $625.01, for a total transaction of $1,984,406.75. Following the completion of the sale, the director now directly owns 9,734 shares in the company, valued at $6,083,847.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raul J. Fernandez sold 740 shares of the stock in a transaction on Monday, March 27th. The stock was sold at an average price of $639.00, for a total value of $472,860.00. Following the transaction, the director now owns 1,213 shares in the company, valued at approximately $775,107. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,915 shares of company stock valued at $25,576,507. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Raleigh Capital Management Inc. lifted its holdings in shares of Broadcom by 4.8% in the first quarter. Raleigh Capital Management Inc. now owns 981 shares of the semiconductor manufacturer’s stock worth $630,000 after acquiring an additional 45 shares during the last quarter. Putnam Investments LLC increased its holdings in shares of Broadcom by 59.2% during the first quarter. Putnam Investments LLC now owns 471,872 shares of the semiconductor manufacturer’s stock worth $302,725,000 after buying an additional 175,533 shares in the last quarter. Arete Wealth Advisors LLC bought a new position in shares of Broadcom in the 1st quarter valued at $1,352,000. American Trust lifted its stake in shares of Broadcom by 3.8% in the 1st quarter. American Trust now owns 628 shares of the semiconductor manufacturer’s stock valued at $403,000 after acquiring an additional 23 shares during the last quarter. Finally, Trivant Custom Portfolio Group LLC bought a new stake in Broadcom during the 1st quarter worth $197,000. Institutional investors and hedge funds own 81.28% of the company’s stock.

Broadcom Trading Down 0.6 %

Shares of Broadcom stock opened at $678.37 on Tuesday. The business has a fifty day simple moving average of $632.34 and a 200-day simple moving average of $588.77. The firm has a market cap of $282.83 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 1.40 and a beta of 1.10. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 1.64. Broadcom has a fifty-two week low of $415.07 and a fifty-two week high of $684.95.

Broadcom (NASDAQ:AVGO – Get Rating) last issued its earnings results on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 earnings per share for the quarter, topping the consensus estimate of $9.38 by $0.95. Broadcom had a return on equity of 73.52% and a net margin of 37.19%. The company had revenue of $8.92 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period in the prior year, the firm posted $7.68 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. On average, equities analysts forecast that Broadcom will post 38.22 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 22nd were paid a $4.60 dividend. The ex-dividend date was Tuesday, March 21st. This represents a $18.40 dividend on an annualized basis and a dividend yield of 2.71%. Broadcom’s dividend payout ratio (DPR) is presently 61.93%.

Broadcom Company Profile

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Broadcom Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.